Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1887-09-28
Will There Be More Deals In Wheat ~

The disastrous consequences to the hast,
the greatest cornering ever attempted in
wheat has left the field of speculation in
that cereal comparatively, if not entirely
quiet. Calculations of supply and demand
with reference to the last crop have COM
menced, and of the future the wisest who
have given thought to the matter have not
ventured an opinion except to say that
bread-supplies are sufficient in tie surplus
producing countries for all the rest which
have need. The estimates of yield make
the crop of the world larger this, than any
preceding year.
1t will be difficult for the cornerers to
find point or center of operations where
their plans could be successfully inaugu-
rated, or from which to enable them to
foresee sudden demand thus created
where their quick unloading could be ac-
complished. All the great markets would
have first to be depressed, work of no
small magnitude, and now more difficult
than ever, because of the condemnation
that rests in advance upon those who pro-
pose to introduce again their devious ways
in disposing of our surplus bread-supplies.
The increasing demand abroad for
American flour is another hedge across the
path of the cornerers. Our wheat rates in
foreign markets from five to eight cents
per bushel higher than any other, and the
comparison Of value between the American
and the flour of other countries is still more
in our favor. Our flour-exports have been
increasing in volume from the cause cited
above, and consequently it is becoming a
subject of corresponding commercial inter-
est which will doubtless assist in securing
If such boon shall ever be in. store for
us-the settlement of values for our sur
plus wheat by natural laws, thus securing
the largest blessing to our agriculture.
Previous to the fiscal year ended in 1887
the largest export of flour ever made from
the United States was in that of 1885,
when it reached 10, 437, 900 barrels. Fol-
, the year ended September 1, 1887, it was
II, 1923, S72 barrels, nearly one million more
than the largest ever previously made
Should corners be attempted with flour, il
would Immediately advance the price Of
wheat, because the millers of the United
Kingdom and other countries grinding the
soft wheat of the India grades, would at
once seek to supply the deficiency of trade
by furnishing flour approaching the good
qualities of the American. and this they
could not do without buying largely of on
hard wheat to mix with the softer kinds Of
the old countries. Nothing would suit the
foreign millers better, for they are now
much concerned about this very thing
their inability to make merchantable flour
without becoming more largely buyers OF
American wheat.
The chances, therefore, for another deal
are not as good as the specializing mania
would have them. But that spirit, though
apparently quiet, is still restless. if not in
durable. As it concerns the producers of
wheat in our Valley, evil always befalls
them when it is rife. The natural laws of
supply and demand, and exercised in their
fullest bearings, are the best for US. The
foreign fuctuation produced by speculation
and the gambling carried on in our chief
centers of trade in the United States un-
settle the smallest interior market to its
hurt, and infllct the most direful conse-
quences by change of prices through fic-
titious processes.
AS the wheat-crop Of 1886 came upon the
commercial arena this time one year ago,
a gradually developing foreign deficiency
held out reasonable hopes for an advance in
which our Valley producers could share
something of its benefits. This they par
TALLY realized, and the gains would have
been greater, had not the SPECTATORS and
gamblers INTERVIEWED with their nefarious
designs to change the effects of natural
laws.
In relation to the crop, now nearly all in
first hands, the hope for an advance 10
price is proper one to be INDUCED, but
there is but little at present on the surface
to assure realization. Certain it is.
nothing of value. will come TO Augusta
wbeat-producers as class through the
channels of wild ard hazardous specula-
ton. Locally We are highly favored with
leading and substantial merchant milling
interests. The community which can
reach the highest progress in preparing it's
raw materials for their final purposes, in
adding life, wealth, and vigor to its exist
ence, is the most prosperous and the hap
piest. In the practical application of this
sentiment will he found a cementing bond
Of union in interest between our farmers
and the growing milling enterprises that
furnish them a home market.